PETRONAS signs PSCs for nine exploration blocks under MBR 2022

Malaysia Bid Round 2023 offers 10 exploration blocks and two clusters of Discovered Resource Opportunities (DRO).

KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) has signed production sharing contracts (PSCs) for nine exploration blocks marketed under Malaysia Bid Round 2022 (MBR) with an investment amounting RM1.7 billion in exploration drilling capital, particularly in the deepwater areas and the underexplored formations.

The PSC partners for the nine exploration blocks include Petronas Carigali Sdn Bhd (PCSB) and E&P Malaysia Venture Sdn Bhd (EPMV) for Block PM327; Skye UMDP Exploration Bhd and PCSB for Block PM340; PCSB, PTTEP Sarawak Oil Limited and Petroleum Sarawak EP (PSEP) for Block SK325; and Sarawak Shell Bhd, PCSB and PSEP for Block 3B.